On World Environment Day, lets talk about Blockchain

Blockchain is, simply put, a distributed ledger in which, every time a transaction takes place, an entry is made in ALL the copies of the ledger. 

Let's say that this blockchain has 2 people. A transaction happens. It is logged on 2 machines. No. of post transactions: 2 

With 3 people: 3 

With 4 people: 4 

Now, lets see the quantum of 5 transactions on these sizes of blockchain: 

2 people: 10 transactions 

3 people: 15 transactions 

4 people: 20 transactions 

5 people: 25 transactions 

This means that as the size of a blockchain increases, the number of transactions multiples. 

All those transactions consume energy and electricity. 

Do they make the transaction 2x, 3x, 4x secure? As compared to ONE backup? 

The simple answer is: NO. Creating n copies of a transaction does not make it n times more secure. The environmental impact is not commensurate with the security provided. 

So this World Environment Day, lets talk about the pollutants of tomorrow - Bitcoin and Blockchain.